Redhill Biopharma Ltd. (NASDAQ:RDHL) Sees Large Decline in Short Interest

Redhill Biopharma Ltd. (NASDAQ:RDHL) was the recipient of a significant decrease in short interest in August. As of August 14th, there was short interest totaling 14,705 shares, a decrease of 50.9% from the July 30th total of 29,926 shares. Currently, 0.3% of the shares of the company are short sold. Based on an average daily volume of 28,818 shares, the days-to-cover ratio is currently 0.5 days.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Redhill Biopharma in a report on Monday, August 3rd. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Redhill Biopharma currently has a consensus rating of “Sell”.

Redhill Biopharma Stock Performance

Shares of RDHL stock traded up $0.03 on Friday, reaching $0.66. The stock had a trading volume of 42,431 shares, compared to its average volume of 25,310. Redhill Biopharma has a 1 year low of $0.57 and a 1 year high of $2.79. The stock has a market cap of $4.02 million, a P/E ratio of 0.00 and a beta of 5.00. The company has a 50 day simple moving average of $0.70 and a 200 day simple moving average of $0.84.

Institutional Investors Weigh In On Redhill Biopharma

A hedge fund recently raised its stake in Redhill Biopharma stock. Gagnon Securities LLC lifted its holdings in Redhill Biopharma Ltd. (NASDAQ:RDHL) by 383.1% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 86,102 shares of the biotechnology company’s stock after purchasing an additional 68,280 shares during the period. Gagnon Securities LLC owned about 1.68% of Redhill Biopharma worth $89,000 at the end of the most recent reporting period. 7.20% of the stock is currently owned by institutional investors.

About Redhill Biopharma

RedHill Biopharma Ltd. is a specialty biopharmaceutical company focused on the development and commercialization of proprietary, orally-administered small molecules for the treatment of inflammatory, gastrointestinal and oncology indications. Founded in 2009 and headquartered in Tel Aviv, Israel, RedHill is publicly traded on the Nasdaq under the symbol RDHL. The company’s strategy centers on in-licensing late-stage clinical candidates and advancing them through regulatory review toward global commercialization.

RedHill’s lead marketed product, Talicia® (formerly RHB-105), is an FDA-approved, three-drug treatment for Helicobacter pylori infection, co-commercialized in the United States through a partnership with Bausch Health.